TARTANMOOSE TRADING LIMITED


Director	DAVIES, Neal Warren


Registered Address	63 Stoneyflatts Crescent
	South Queensferry
	EH30 9XY


Registered Number	SC522533 (Scotland)

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	60		65

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 24	304,000	304,000
At 31 December 24	304,000	304,000
Amortisation and impairment
At 01 January 24	28,356	28,356
Charge for year	2,200	2,200
At 31 December 24	30,556	30,556
Net book value
At 31 December 24	273,444	273,444
At 31 December 23	275,644	275,644

4.	Revaluation of intangible assets
	As at 31 December 2024, the company has recognised intangible assets totalling £260,000, representing the value of non-physical assets that contribute to the business’s brand strength, customer engagement, and market presence. These assets have been valued using a combination of cost-based and income-based approaches, as outlined below: The company holds a registered trademark (UK00003695051), valued at £1,250 based on the direct costs incurred for registration and associated legal and marketing expenses. The business maintains an active email list comprising 80,659 subscribers. Based on a conversion rate of 5% and an estimated annual revenue of £17 per subscriber, the potential annual revenue attributable to the list is £68,560.15. Applying a revenue multiple of 3x, the intangible asset value of the email list is estimated at £205,680.45. The company’s Instagram account has 55,600 followers, with an estimated engagement rate of 3% and average annual revenue per follower of £17. This results in potential annual revenue of £28,356, and applying a 3x revenue multiple, the intangible asset value of the social media following is estimated at £85,068. Goodwill has not been separately quantified in this valuation but is considered to be reflected in the overall brand value and customer engagement metrics. It includes factors such as customer loyalty, supplier relationships, and brand reputation. There were no changes to the revaluation reserve during the current financial year. The valuation remains consistent with the prior year and is subject to periodic review based on changes in engagement, conversion rates, or market conditions.

Revaluation of intangible assets

As at 31 December 2024, the company has recognised intangible assets totalling £260,000, representing the value of non-physical assets that contribute to the business’s brand strength, customer engagement, and market presence. These assets have been valued using a combination of cost-based and income-based approaches, as outlined below:

The company holds a registered trademark (UK00003695051), valued at £1,250 based on the direct costs incurred for registration and associated legal and marketing expenses.

The business maintains an active email list comprising 80,659 subscribers. Based on a conversion rate of 5% and an estimated annual revenue of £17 per subscriber, the potential annual revenue attributable to the list is £68,560.15. Applying a revenue multiple of 3x, the intangible asset value of the email list is estimated at £205,680.45.

The company’s Instagram account has 55,600 followers, with an estimated engagement rate of 3% and average annual revenue per follower of £17. This results in potential annual revenue of £28,356, and applying a 3x revenue multiple, the intangible asset value of the social media following is estimated at £85,068.

Goodwill has not been separately quantified in this valuation but is considered to be reflected in the overall brand value and customer engagement metrics. It includes factors such as customer loyalty, supplier relationships, and brand reputation.

There were no changes to the revaluation reserve during the current financial year. The valuation remains consistent with the prior year and is subject to periodic review based on changes in engagement, conversion rates, or market conditions.

		2024		2023
		£		£
	Other intangible assets	260,000		260,000

5.	Tangible fixed assets

	Land & buildings	Plant & machinery	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	14,925	23,991	47,567	86,483
Additions	-	-	777	777
At 31 December 24	14,925	23,991	48,344	87,260
Depreciation and impairment
At 01 January 24	14,925	19,576	14,252	48,753
Charge for year	-	1,104	8,423	9,527
At 31 December 24	14,925	20,680	22,675	58,280
Net book value
At 31 December 24	-	3,311	25,669	28,980
At 31 December 23	-	4,415	33,315	37,730

6.	Stocks
	Director’s Review of Stock Provision The director has reviewed the provision for stock levels at the year end and, based on the assessment of current and expected future conditions, determined that no adjustments were necessary. The carrying value of stock is considered appropriate and reflects a true and fair view of the company’s inventory position.

	2024	2023
	£	£
Raw materials and consumables	25,500	24,000
Total	25,500	24,000

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	200,843	164,865
Bank borrowings and overdrafts	293,017	189,903
Taxation and social security	244,295	63,742
Accrued liabilities and deferred income	5,999	5,998
Total	744,154	424,508

8.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	19,685	252,429
Total	19,685	252,429

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		273,444		275,644
Tangible assets	5		28,980		37,730
			302,424		313,374
Current assets
Stocks	6	25,500		24,000
Debtors		215,930		200,845
Cash at bank and on hand		31,855		24,144
		273,285		248,989
Creditors amounts falling due within one year	7	(744,154)		(424,508)
Net current assets (liabilities)			(470,869)		(175,519)
Total assets less current liabilities			(168,445)		137,855
Creditors amounts falling due after one year	8		(19,685)		(252,429)
Net assets			(188,130)		(114,574)
Capital and reserves
Called up share capital			100		100
Revaluation reserve			260,000		260,000
Profit and loss account			(448,230)		(374,674)
Shareholders' funds			(188,130)		(114,574)